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HSBC plans U.S. market-cap lookback allocator notes on three indexes
By Jennifer Chiou
New York, May 24 - HSBC USA Inc. plans to price 0% U.S. market-cap lookback allocator notes due June 27, 2014 linked to the S&P 500, S&P MidCap 400 and Russell 2000 indexes, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be the allocated return, which gives a 60% weight to the best index return, a 30% weight to the second best and a 10% weight to the lowest index return.
The notes (Cusip: 4042K1HU0) will price on June 22 and settle on June 27.
HSBC Securities (USA) Inc. is the agent.
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